The Shoppes at Old Bridge on Route 9 in Old Bridge — Courtesy: Levin Management Corp.
By Joshua Burd
Levin Management Corp. has secured two new assignments on behalf of property owners in and around its home state of New Jersey, the North Plainfield-based firm said.
On Route 9, LMC will serve as property manager for the 125,000-square-foot center known as The Shoppes at Old Bridge. The assignment comes as a new owner prepares to renovate and reposition the complex, which is home to Crunch Fitness and Worldwide Flooring Design Center, along with a mix of apparel stores, specialty shops, restaurants and service providers.
“Our new client recognized the importance of engaging a strong manager with deep experience operating properties under redevelopment — one that could provide a continual on-site presence and work to ensure a seamless experience for tenants and shoppers throughout the process,” said Joseph Lowry, LMC senior vice president of acquisitions and business development. “The Shoppes at Old Bridge is a great addition to Levin’s management portfolio, and we look forward to utilizing our expertise in all aspects of property operations to maximize the center’s value and appeal.”
Meantime, the owner of 25 properties in New York, New Jersey and Pennsylvania retained LMC to manage the 335,000-square-foot portfolio. Lowry noted that the assignment spans five multitenant and 20 single-tenant, net-leased assets, with users from categories such as convenience, grocery, dining, home improvement, banking and pharmacy.
The addition strengthens LMC’s Long Island presence, especially, as most of the properties are located in Suffolk and Nassau counties.
“This new client cited Levin’s depth of knowledge and integrated service platform — combined with our industry reputation as a hands-on, nimble and collaborative third-party provider — in selecting us for this assignment,” Lowry said. “This is particularly gratifying because the client’s due diligence process was incredibly thorough, and the property owner met with a number of regional, national and international commercial real estate services firms.”
The new business comes amid several other recent assignments for LMC, including management of a 108,000-square-foot, seven-story office building at 222 Bridge Plaza South in Fort Lee. It also has several other opportunities in the pipeline, the firm said.
